Member Info for WongaFC

Another day/week/month passes in the news vacuum and you have to ask what on earth "the teams" are actually doing. Nothing achieved month after month while we burn another £250k+. I guess JM won't be overly concerned as another big salary payment hits his bank account.

I always thought CEO was an abbreviation of Chief Executive Officer but it would appear in this case it's Conman Extra Ordinaire!

"What is everybodys prediction for 10p? I am estimating by Mid April."

To be fair, he never said what year. Mid April 2027 perhaps?

"We are pleased to be partnering with forward-thinking companies that are taking action and championing change."

Depends what you call "taking action" I suppose? Might he be talking about Valkor? Certainly can't be MSC/Cargill as ongoing failure to sign a trial agreement can hardly be classed as taking action? Maybe it's his subtle way of calling out their inaction?

AFAIK, we're still looking for someone to make the fuel for the OCP trial, haven't heard anything re. supplier?

"4) There is loads of potential to expand drilling in Tomco's leases"

Except for the fact they are about to sell their lease back to TSHII at a loss!

If the potential is so good now that Valkor are proving its worth, why don't TSHII pay a premium instead of a discount? Oh yes, that's right, Tomco are desperate and going nowhere.

"Seriously SC, I don't know how you can have such a positive spin on such a mess."

Crownos, have you not been paying attention to his posting history?

I wonder if his real name is Sucker MacGullible?

The sale will allow the BoD to clear debts, including their overdue back pay and possibly allow them to limp along for a month or two, paying more lip-service to fund raising, while drawing their remuneration. I doubt Tomco will exist as a going concern far beyond the year end!

Way too much negativity around the second RNS. It's not as if the raise was for "unexpected EWT costs and ongoing working capital". It's for an entirely different project and the rationale for this move has been explained. Now we may question the timing of this raise but as alluded to, we were not in control of the timing. In other words, if they really wanted this deal, they had to move swiftly and they have.

Raising capital via a placing rather than an open offer to existing shareholders is both quicker and more cost-efficient. We do not know all the background details and conversations held so it really comes down to, do you trust the management team or not. Those who do not will likely sell and those who do will hold/buy more. Remember, be greedy when others are fearful.

I wrote this as part of a post on February 7th this year;

"Having listened to the Director's Talk interview, initially all I heard was next few months, next few months, next few months....... Although a crumb of comfort in the suggestion they have been conservative in their spending of remaining capital.

With the 50p and £1 nutters out in full force, to provide some balance here's what I read into the situation.

MSC trial will not commence in Q2 and depending on further delays maybe not this year.

Moroccan client??? will request further testing before committing to a commercial supply contract. Again not by mid-year.

Utah/Valkor, continues to move at snail's pace, no funds from there first half of year.

I seriously hope they have more or less agreed II or Investment Bank funding of at least £6m as that's what I believe will be required to get to commerciality. Without some really positive news in the next few weeks, we'll be lucky to make it to 10p this year??

I'll be delighted to be proved wrong though!!!"

Isn't it a sad reflection of JM's abilities, when posters on here with zero inside knowledge, can provide a much more accurate probable timescale than those closest to the action. What a pathetic bunch our management team.

I now firmly believe the begging bowl will be out again before we sign a decent commercial contract. Shambles!

"whilst the Leandra is off on another Mexico trip"

WHAT! but but but Stuckchuck, you assured us they would be starting the trial this time???

Maybe next trip huh? Come on Mr broken clock.

I should have added that during these long periods of little or no news/progress, the SP has tended to drop and recently looked like it was heading to the 1p-1.5p range. However, this time the normal trend reversed and we're now up around the 1.9-2p mark. This does give me some hope things are progressing behind the scenes and the hush hush is down to the requirements of others?

"genuine truths of where we really are"

I suppose that is the risk with any AIM investment? Are we being told the truth? or are we being fed woolly information, (not lies though) to placate our ongoing frustration. Certainly seems the latter to me.

I agree with the sentiment of Valkor now being our best hope of initial commercial success. Like many here, I believe if MSC were serious about MSAR/BioMSAR the trial would have been completed, never mind not started by now. Same kind of goes for OCP. We have been trialling fuel in Morocco for what seems to be ages, pilot trial, site B trial, industrial trial and now we are told further trials needed. Also, how long does it take to find a supplier? Months and months, if not years, obviously.

Other left-field projects are mentioned regularly but again, nothing firmed up. At least Steve Byle seems to be a get things done kind of guy and while the Utah authorities and Hoodoo's bogus claims have held up this project, hopefully they will get things going "relatively" quickly. Although one concern is how long it appears to be taking to get a sample to QRF. I'm sure JM will be crowing from the rooftops when it does arrive, so I assume it has not been received, or possibly sent yet?

I was over-exposed here and I must admit my greed probably got the better of me. I certainly feel a bit more at ease having trimmed my exposure from 7m to 4m shares. Still hoping for the game-changing RNS......whenever that may be????

No, they were both mine. Sold 500k each from ISA and SIPP. Getting more and more fed up of this lack of progress.

Cash invested elsewhere. Last time I did similar, we saw the SP lift a bit so nothing to say it won't rise again.

Waste of time arguing with Stuck Chuck, Beechhurst. Once he has an idea in his head he will peddle it until long after it's obvious he's wrong. Good heavens, to our knowledge, there remains 3 or 4 outstanding agreements to be signed before the MSC trial will start, yet he continues to suggest it's starting, dare I say "imminently". I picture him on being wrong again, with his fingers in his ears, shouting la la la la! A broken clock is correct two times a day more than he.

Barking and Crownos, I too am in the "grief from her indoors" boat. I've been promising her a new campervan for the last 2 years, based on JM's bullish (have I spelled that correctly;-) rhetoric. I am retired and fortunately own my home unencumbered although I have great sympathy for young 'uns nowadays given the difficulty getting on the property ladderbut that's an argument for another day!

Another week of nothingness passes, despite the team(s) working feverishly behind the scenes. Still, only 2 weeks until another big pay cheque for JM.

Nice work if you can get it.

I believe it's MMs attempt to "encourage" a panic sell or two. Usually a small, (sub £5) trade, today's was £3.80'ish, yesterday it was £1.46'ish. Wait to see tomorrow's, it's usually one of the first trades of the day and normally around the £1-£2 value.

It's over for Tomco. My last hope was if Valkor proved, (via MSAR/BioMSAR) that the oil sand play was very lucrative, then the small Tomco 10% lease might be seen as worth much more than the £2m paid for it. Then by hook or crook, Tomco could have profited from their lease and built the company from there.

However, it looks like the redemption of the lease is the only show in town, allowing the Tomco management to tidy up the affairs of the company before wind up. Can't see any other avenue of hope.

"The fat lady isn't singing yet"

No, but I can hear her clearing her throat!

While this is not the end for Tomco, I believe it is the beginning of the end. The RNS reads to me like,

"we're over a barrel here, potless and suspended with no chance of funding in our current state. Given this, we have to clear up the mess we're in and have been offered a get-out route, selling our only real asset, to clear the debts and allow us to meet our other obligations, prior to probable inevitable winding up."

No amount of side agreements, additional leases or mutual benefits give me any hope for Tomco's future. The only crumb of comfort I take from this, is that, (as a QED shareholder) it could be a better financed operation is in the background looking to exploit the area, with the potential of MSAR/BioMSAR future collaborations, although the possibility of recommissioning of local refinery perhaps lessens that hope.

Like Petroteq before them, I have already written off my 9m shares here.

If, the stars align, no doubt Utah could be a huge play and if, MSAR/BioMSAR is a success there, who knows what doors it could open worldwide?

I'd like to think Jason Miles is knocking down the doors of SM Energy and other Uinta Basin players, to advise them of the lucrative option of MSAR/BioMSAR conversion but as we've given Valkor "exclusivity" in the area, I guess we're depending on them sub-licensing our tech?

"Maersk's new fleet forced to use gas due to lack of green methanol :"

Let's hope it's costing them a fortune and hitting their bottom line.